Today is the first day after the end of the Spring Festival holiday, and also the first day when many companies resume work

Today is the first day after the end of the Spring Festival holiday, and also the first day when many companies resume work

In order to continue to do a good job of epidemic prevention and control, many companies have chosen to open a remote office mode for their employees

Many vendors that provide remote office tool services have also heard the news: Tencent Documents release the remote collaborative office function for free; Huawei Cloud Welink opens the free product service function; Byte Beat's flying book, free all remote collaborative office services

If SARS sounded the first clarion call for telecommuting, then today, with the maturity of technology, and the catalysis of this epidemic, is it possible for telecommuting to usher in explosive growth and be accepted by more companies and employees and adopted for a long time? ?

This week, Guotai Junan Securities research launched the "Online Economy" feature, focusing on those industries that must be paid attention to under the epidemic

Today, we are sharing with you the first topic of this topic-"remote work"

Although Polycom won a large order in China in 2003, because high-speed networks have not yet been fully popularized, Polycom equipment at that time needed to operate on a dedicated line network, and the application scenarios were limited to conference rooms and could not provide external services. In addition, the equipment debugging is complex, requiring special personnel to operate and maintain, etc., Polycom has not achieved subsequent success

In 2016, Polycom was privatized and delisted, and in 2018 it was merged into the Canadian giant Mitel

Nonetheless, Polycom's position as a hardware equipment provider remains-70% of Microsoft Skype for Business / Microsoft Lync seamlessly integrated telephony devices currently on the market come from Polycom

Polycom has gradually transformed from a software service provider to an audio and video hardware equipment provider

The two technological revolutions in history gave birth to the development and development of the video conference industry

First time: The transfer of Internet communications from narrowband to broadband

The so-called "narrowband" refers to a network with a transmission speed of 4M or less, and "broadband" refers to a network with a transmission speed of 4M or more

The second time: remote video is transformed from traditional private network communication to cloud video

Based on the cloud service model, the cost of video calls has dropped to 1/10 of the original, greatly reducing the threshold for customers to use

Enterprises no longer need to purchase expensive management system equipment. They only need to sign a contract with a unified communications service provider and pay monthly usage fees to enjoy unified communications services

Data source: China Procurement Bidding Network, Guotai Junan Securities Research

The decline in costs quickly opened up the market for customers in multiple industries. Remote office services have gradually become more open and popular from closed systems built by large enterprises and closed systems for internal communication only

▼ Cloud video technology promotes remote office to 100 billion industry applications

According to data from research institutions affiliated to China Software Network, in 2017, China's smart mobile office market size was about 19.4 billion yuan, and in 2018 it was about 23.4 billion yuan, a year-on-year increase of 20.8%

▼ The growth rate of China's remote office market in the past few years

The participation of small, medium and micro enterprises and individual users has made the remote office market a competitive place where all parties are rushing in. Just by type, we can roughly divide the players in the market into three categories-

1. Equipment hardware giants are moving towards software and hardware integration

Cisco has the same name as Polycom in terms of video equipment, but facing the rise of Google, Amazon, Facebook and other vendors in the field of cloud services, Cisco has also begun the transformation of cloud video services

Since 2011-2016, Cisco has acquired a number of audio and video services companies, the most important of which is WebExz, which many people are familiar with

In many large companies in the United States, "Let's do a WebEx" is almost the same as "Let's Google it", a common communication saying

On March 14, 2007, Cisco announced that it had acquired Webex for $ 3.2 billion in cash. With this acquisition, Cisco has also perfectly implemented a software and hardware integration solution and has become a remote video office giant

At present, Cisco has gained 53% of the global web conferencing market, and about 7.1 billion people participate in web conferences every month. It is a well-deserved leader in web conferencing platforms

Unlike Ali Dingguo and Tencent Enterprise WeChat, the main purpose of Huawei Cloud Welink is to aggregate multiple Huawei services on one platform to achieve integration between various office tools, allowing Huawei to completely say goodbye to the previous multiple chimney-type mobile apps caused by parallel Experience is inconsistent

▼ Huawei releases products that support more than 2,000 people on multiple terminals

Data source: company's official website, Guotai Junan Securities Research

According to data from Huawei's official website, since Welink went online in 2017, it has withstood the office inspection of all 190,000 employees of Huawei, 520,000 global link teams, 2.1 billion connections per year, 700+ business connections, and improved overall staff collaboration efficiency30 %

In 2009, with the decrease in revenue and market share of the stand-alone office products in the global market, Microsoft released the office 365 platform. The core function of which is segmented is the enterprise-level collaborative communication function represented by Skype for Businesses. Out of Teams products

▼ The market share of Microsoft Teams has increased significantly in the past two years

Data source: Microsoft's official website, Guotai Junan Securities Research

As a product of the deep integration of the Office 365 cloud platform, Teams was given an important mission to counter office collaboration software such as Slack and Google hangouts, ensuring Microsoft's leading position in the office field, and also gained important traffic support from Office 365 and the commercial version

Data source: Microsoft's official website, Guotai Junan Securities Research

Data from March 2019 show that more than 500,000 institutional customers use team products, an increase of more than 150% over the same period in 2018. Among them, more than 150 customers have more than 10,000 users, 91 of the top 100 global fortunes use teams, and Microsoft has an absolute advantage in terms of large customers

In 2013, under the premise of the group's Alibaba all-in wireless, the former head of Taobao's search business, Chen Hang gathered the team to be responsible for the development of personal communication products, but failed in the process against Tencent WeChat

In 2014, we found communication problems in the corporate office during the cooperation with the merchants. The team turned the overall work focus back to the B-side, and created a product “nails” with the goal of “building a pure working environment”. Version 1.0 can serve customers Provide team communication tools including toll-free calls, corporate groups, and more

In terms of the number of active users, in April 2018, the number of active users in Dingding ranked first in the industry, and the number exceeded the sum of the number of second to tenth active users. As of October 2019, there were 200 million end users in Dingding. Among them, the number of active users has reached 70 million, which has basically formed a duopoly in the domestic market and corporate WeChat

In 2016, Tencent released version 1.0 of "Enterprise WeChat". As of 2019, corporate WeChat has been updated to version 2.8.5. In addition to video functions similar to WeChat, it also integrates a number of functions such as announcements, attendance, leave, reimbursement, approval, corporate payments, and other functions

In December 2019, Tencent Cloud released "Tencent Conference", a SaaS-based remote office product, as its leader in entering the B-end enterprise communication market

In terms of practicality, Tencent meetings can be dialed in directly through mobile phones, computers, telephones, WeChat applets, corporate WeChat and other methods; technical aspects provide a variety of practical functions including video beauty, dark scene enhancement, noise reduction, etc .; For complex scenarios such as cross-company meetings, convenient operation methods including screen sharing and online document operations are provided

In terms of hardware, Tencent Conference selected Yealink, Xiaoyu Yilian, and Polycom as hardware partners to provide them with a variety of office collaboration hardware, including conference room systems

After seven years of development, the fast-expanding ByteDance has realized the global business layout. With the expansion of the company's size and business scope, ByteDance's internal communication and collaboration are facing great challenges. This challenge is reflected in three aspects: employee network Increased complexity, increased cross-regional and cultural communication, and increased number of internal systems. The company tried various communication tools, and finally chose to develop its own flying book products

Fei Shu's positioning is a new generation of creative and communication platforms. On the basis of IM, Feishu provides audio and video conferences, cloud disks, smart calendars, online collaboration documents, etc., and also provides an open platform that enables users to integrate with business systems based on it and quickly build their own Application, you can also make full use of third-party ISV applications. The core functions of Feishu are: corporate directory, smart calendar, enterprise cloud disk, online documents, audio and video conferences

Zoom was founded by a departure and entrepreneurial team from WebEx. Zoom entered from the SME and education vertical industries. It adopted the Free + Prime mode in the early stage to cultivate user habits and accelerate penetration into the B-end market. Later, it adopted an independent account to determine the model and increase the number of participants. And time to increase the frequency of complex meetings in large enterprises

Users can buy an account at the price of $ 15 / month, and can conduct video conferences online. It is simple and convenient to use and has been rated as the most satisfied company by customers in North America for many years

Vidyo, although not a telemedicine company, has been working closely with the medical community

Unlike other cloud video vendors, Vidyo's video communications are encrypted and comply with HIPPA standards, so they are favored by the medical community. They have established cooperative relationships with Philips, the California Telemedicine Network, Messi Health, and the Mayo Clinic

On April 26, 2016, Aegaba announced that it has chosen to establish in-depth cooperation with Vidyo, becoming a multi-party video conferencing partner for Aegina's embedded high-definition picture quality and click-to-join

Xiaoyu Yilian is a domestic leader in cloud video conferencing, focusing on innovative intelligent hardware and taking into account cloud platform services

The company was created by the former Polycom team, focusing on the "cloud" + "end" model. Its core competitiveness is high-performance, low-cost cloud services. It provides solutions and services such as conference calls, cloud assistance, hardware video conferencing, and enterprise-level live broadcast. Provide vertical areas such as video conferencing, distance education, telemedicine, remote finance and remote government affairs

Xiaoyu Yilian has technical advantages over traditional private network video. Xiaoyu Yilian uses AI technology to achieve classroom identification, behavior recognition, and after-school data analysis

Based on the behavior recognition of students in the classroom and the statistics of students' use of clickers, the teacher judges the effect of the classroom, including the degree of student's concentration, participation, and mastery of knowledge points. When a large area of ​​data is abnormal, the teacher can adjust the teaching method in time

The advantage of the integration of Huichang Communication Terminal + Cloud Platform + Industry Solutions is outstanding, the core competitiveness of technology-leading peers is strong, and it has developed rapidly in dual-teacher classroom education and other subdivided fields

Compared with other manufacturers in the remote office field, the main competitive advantages of Huichang Communication are good product stability, strong reliability, large platform capacity and relatively low price

Suzhou Keda has decades of industry experience in the field of network videoconferencing. The company has built two end-to-end complete product lines for video conferencing and video surveillance, focusing on industry solutions in the four areas of public inspection and law enforcement

In addition, the company also established a public cloud-based "Moyun Video" operating platform. The company uses "server + software" to build a central platform based on "cloud computing" in a carrier-grade computer room to support telecommunications, China Unicom, and mobile operators. Into

Taken together, we believe that several major trends deserve attention

Since 2002, video conferencing in China has been mainly through the purchase of Polycom and Cisco equipment. Later, due to the requirements of confidentiality and information security, the government department gradually deleted the procurement plan for foreign manufacturers in the field of remote office system procurement

March 2015: The government adjusts the procurement list and deletes the procurement plan for Cisco video conferencing

2016 to 2017: The government issued policies intensively, and cyber security rose to the national strategy

After 2017, the remote office solutions used by the government are mostly produced for domestic enterprises

Judging from the ten projects with the largest bids in 2018, the successful bidders are all domestic companies. The special requirements of information security and confidentiality have hindered foreign video conferencing manufacturers, which has brought broad prospects for domestic manufacturers

Data source: China Industrial Information Network, Guotai Junan Securities Research

Second, China's telecommuting office market is characterized by high definition, and enterprise-level users still contribute to the size of the telecommuting market

In 2014, China's remote office market officially ushered in the era of high definition. The size of the high definition market exceeded the standard definition market by 51.5%

The high-definition remote office brings a better live experience, and its ratio reached 76.8% in 2018. The development of new technologies has gradually made it possible to meet the needs of video fusion, with the highest proportion of high-definition video content reaching 84.7%

Government-level user demand is concentrated in large-scale, high-quality, and price-insensitive